DA Davidson Expects Weaker Earnings for Akamai Technologies

Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities researchers at DA Davidson decreased their FY2024 EPS estimates for shares of Akamai Technologies in a research report issued to clients and investors on Thursday, December 19th. DA Davidson analyst R. Kessinger now anticipates that the technology infrastructure company will earn $4.26 per share for the year, down from their prior estimate of $4.31. The consensus estimate for Akamai Technologies’ current full-year earnings is $4.29 per share. DA Davidson also issued estimates for Akamai Technologies’ Q4 2024 earnings at $0.99 EPS.

AKAM has been the topic of several other research reports. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Monday, December 2nd. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Robert W. Baird reduced their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Scotiabank reduced their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Finally, UBS Group started coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.85.

Akamai Technologies Trading Up 1.4 %

NASDAQ AKAM opened at $95.89 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $14.41 billion, a P/E ratio of 28.37, a P/E/G ratio of 3.83 and a beta of 0.65. Akamai Technologies has a 52-week low of $84.70 and a 52-week high of $129.17. The firm has a 50-day moving average price of $97.51 and a 200 day moving average price of $96.65.

Insider Activity

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the transaction, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,282 shares of company stock worth $1,733,716 over the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Akamai Technologies during the 2nd quarter worth about $28,000. Family Firm Inc. bought a new stake in shares of Akamai Technologies in the 2nd quarter valued at about $35,000. Eastern Bank acquired a new stake in Akamai Technologies in the 3rd quarter valued at about $71,000. Finally, Covestor Ltd grew its holdings in Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.